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On Decemeber 1, 2014, Parsons Sales sold machinery to a customer for 2,000. The customer could not pay at the time of sale, but agreed to pay 9 months later, and signed a 9-month note at 12% inter
Goltra Clinic is considering investing in new heart monitoring equipment. It has two options: Option A would have an initial lower cost but would require a significant expenditure for rebuilding aft
Carolwood Company manufactures widgets and uses process costing. The status of their beginning and ending inventory is as follows:
The Ambrosia Corporation's lead accountant shows the following info: On Jan 1, 2012, Ambrosia purchased a bottling machine for $800000
The management of Matza Corporation is considering the purchase of a machine that would cost $370,000, would last for 9 years, and would have no salvage value.
Cheesecake Chimney had a contribution margin of $46,000 on sales of $80,000 and had fixed costs of $28,000. What is their breakeven point in sales dollars for Cheesecake Chimney?
Bassanova Company has two products: A and B. The annual production and sales level of Product A is 18,000 units. The annual production and sales level of Product B is 32,000.
Juan purchases an annuity for 3480 dollars that will make 18 annual payments, the first to come in one year. If the annual rate of interest is 8.7 percent, how much is each annual payment?
Krew Kutter's net income was $100,000 last year. The company has 10,000 shares of common stock and 4,000 shares of $200 par value.
Wigs Plus has a past history of uncollectible accounts by age category, as follows Determine the number of days past due for each of the preceding accounts. If an account is not past due, enter a z
The ticket packages will be sold for $225 each and the ski resort and lodging facilities intend to reimburse George for any unsold ticket packages. Fixed costs include $4,000 in advertising costs.
The charter of a corporation provides for the issuance of 100,000 shares of common stock. Assume that 45,000 shares were originally issued and 5,000 were subsequently reacquired. What is the number
Compute the following variances for raw materials, direct labor, and variable overhead, assuming that the price variance for materials is recognized at point of purchase
A corporation issues 1,500 shares of common stock for $ 32,000. The stock has a stated value of $10 per share. The journal entry to record the stock issuance would include a credit to Common Stock?
Waterways is thinking of mass-producing one of its special-order sprinklers. To do so would increase variable costs for all sprinklers by an average of $0.71 per unit.
Weinstein has purchased $2,100,000 of commercial paper of Sergio Leone Co. which is due in 60 days. Currency and coin on hand amounted to $7,700.
Lemmiwinks Industries has a standard cost system in which it applied overhead on the basis of direct labor hours. It expected to have 40,000 direct labor hours for the year (denominator hours).
Think about the personal financial transactions that you have engaged in during the course of the last week. Describe five examples of internal control procedures that you personally encountered, a
George plans to sell his customers a special for a ski package weekend. He is able to purchase the package from the providers for $175 each.
Phillips Company's accounts receivable were $250,000 at the beginning of the year and $300,000 at the end of the year. Cash sales for the year were $425,000.
The total direct labor hour variance for Curb Corp is $7,500 F. The direct labor efficiency variance is $2,700 U. If the total direct labor cost is $25,000 and the actual direct labor rate is $40,
How Bout Now, a clothing retailer, had cost of goods sold of $525,000 last year. The beginning inventory balance was $32,500 and the ending inventory balance was $35,000. What is the company's Day
On May 31, 2010, James Logan Company had a cash balance per books of $6,781.50. The bank statement from Farmers State Bank on that date showed a balance of $6,404.60.
Behen Corporation has an acid-test ratio of 1.0 to 1 and a current ratio of 2.0 to 1. If current assets equal $120,000, of which $5,000 is prepaid expenses, what must Behen Corporation's inventory
Murphy Corporation has the following data pertaining to certain costs that cannot be easily identified as either fixed or variable. Murphy Corporation has decided to use a method of measuring cost f